State Treasurer Andy Dillon told Detroit city officials what increasingly had seemed inevitable.
The Detroit Free Press reports Dillon (pictured here) said Wednesday that he expects to begin a begin a 30-day review process as early as Monday to appoint an emergency financial manager to oversee a city that's been burning through cash and shows no encouraging signs of stabilizing its finances. He cited the city's leaders inability to work together in solving the problems.
“We’ll very likely next week start the review under Public Act 72, as…allowed under the agreement” between the city and state, he told Free Press columnist Rochelle Riley.
Council President Pro Tem Gary Brown said, according to the Freep:
“The real issue is cash burn. The city is going through cash so quickly, it’s scaring everybody.”
